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Beef factories are coming under increased pressure to lift prices. At the first meeting of the Beef Market Taskforce, Meat Industry Ireland accepted that rising prices in key export markets should result in “positive price developments soon”.
However, the lack of a solid commitment to an immediate price increase has angered farmers who are receiving €150 to €180 per head less for a typical steer than those in Northern Ireland.
Foyle Meats, understood to be most active in the Chinese market, offered farmers a base price including bonuses of over €4/kg for in-spec Aberdeen Angus steers
In Brazil, prices have jumped by 76c/kg and are on par with Ireland for equivalent type animals.
Although Irish factories continue to hold the base price, cracks have appeared, particularly for animals over 30 months and cows. Foyle Meats, understood to be most active in the Chinese market, offered farmers a base price including bonuses of over €4/kg for in-spec Aberdeen Angus steers.
The beef taskforce will meet again in January to discuss a review of the payment grid by Teagasc. While there have been calls to increase the differential to €0.10/kg, the Irish Farmers Journal understands initial work points towards a smaller increase, if any.
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